Editorial | The path to realising green-tech dreams
- Promising steps have been taken as Hong Kong moves full steam ahead to diversify away from traditional financial growth as a driving force
Green technology shows signs of growing into a strong option for the city to economically recreate itself again, this time as an international hub for a sector many hope will have a profound impact on the planet’s future. It is encouraging to see the government outline steps towards building a green-tech “ecosystem”.
In his February 22 budget, Financial Secretary Paul Chan Mo-po unveiled five proposals to foster innovation and facilitate fundraising for projects with environmental benefits. He said the city must seize “opportunities brought by our country’s dual carbon strategies”, referring to China’s goals of peak emissions by 2030 and carbon neutrality by 2060.
Chan said the first step would be to attract the best people and enterprises as well as encourage collaboration between industry, academia and research communities to accelerate commercialisation of innovative technology.
Other moves include helping green projects obtain capital “more conveniently and flexibly” as well as facilitating the training of talent and cooperation with overseas and regional partners.
Officials would work to make it easier for new ventures to obtain independent certification for green credentials, essential for fundraising, and to align domestic and international standards, Chan said. A green technology and finance development committee will be set up to prepare an action plan.
